来源：市场资讯 （来源：矿业俱乐部） 镉0#28600-29600元/吨0铬99A81100-84600元/吨0碲741-751元/千克 0 铼28100-32600 元/千克0 锑0#锑锭171100-174100元/吨100002#高铋163100-166100元/吨10000镁99.9%上 海17005-17105元/吨 0 铌≥99.9%665-675元/千克0钒≥99.5%1461-1561元/千克0电解锰广西 13400-13600元/吨 0金属锂≥99%575100-610100元/吨0金属砷6705-7205 元/吨0海绵钛≥97-98%45-46元/千克0海绵锆≥99% 166-171元/千克0 1631-1681元/吨碳酸稀土44305-44705元/吨红土镍矿 1.8%（FOB） 72-75美元/湿吨 非金属报价 产品名称 矿产品报价品名规格产地涨跌铜精矿18-20%74012-77769元/金属吨铅精矿50%河南16650-16800元/金属 吨云南16750-16900元/金属吨锌精矿50%云南 18604-18704元/金属吨 湖南18554-18654元/金属吨钼精矿45%367 ...

天眼查App显示，近日，红河汇锐铂途矿业有限公司成立，法定代表人为李华荣，注册资本300万人民 币，经营范围为一般项目：金属矿石销售；非金属矿及制品销售；选矿；非金属废料和碎屑加工处理； 金属链条及其他金属制品销售；有色金属合金销售；有色金属压延加工；有色金属合金制造；常用有色 金属冶炼；金属切削加工服务；稀有稀土金属冶炼；有色金属铸造；贵金属冶炼；高性能有色金属及合 金材料销售；金属废料和碎屑加工处理；矿物洗选加工。（除依法须经批准的项目外，凭营业执照依法 自主开展经营活动）许可项目：非煤矿山矿产资源开采；煤炭开采。（依法须经批准的项目，经相关部 门批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准）。 ...

每经编辑｜吴永久 11月19日，上证指数小幅反弹，1200只个股上涨，4175只股下跌。水产品板块中多只股涨停，涉足硫酸业务的恒光股份20CM涨停，黄金、有色、光交换 机等板块涨幅居前。 在储能和新能源车的拉动下，硫酸、硫铁矿上市公司近期表现强劲，如粤桂股份、国城矿业、大中矿业股价暴涨，其中国城矿业、大中矿业不到一个月 就翻倍，市场青睐涨价题材。 在每日经济新闻App举办的掘金大赛中，第78期比赛从11月17日开始，多位选手跑步入场。报名时间为11月15日至11月28日，比赛时间为11月17日至11月 28日。大赛为模拟炒股，模拟资金50万元。每期比赛结束，正收益就获现金奖励！报名就拿福利！冲刺月度积分王大奖！ 每期比赛的税前现金奖励为：第1名奖励688元，第2~4名奖励188元/人，第5~10名奖励88元/人，其余正收益选手均分500元正收益奖。月度积分王的税前 现金奖励为：第1名奖励888元，第2~4名奖励288元/人，第5~10名奖励188元/人，第11~30名奖励68元/人，第31~100名奖励18元/人。 为方便选手了解有价值的信息，与高手交流市场热点和投资技巧。报名掘金大赛后，就能申请加入掘金大赛 ...

Group 1 - Yunnan Tin Company Limited's stock increased by 5.59%, reaching 24.56 CNY per share, with a trading volume of 512 million CNY and a turnover rate of 1.30%, resulting in a total market capitalization of 40.421 billion CNY [1] - The company, established on November 22, 1998, and listed on February 21, 2000, is primarily engaged in the exploration, mining, beneficiation, and smelting of metals such as tin, zinc, copper, and indium [1] - The main revenue composition includes tin ingots (43.61%), supply chain business (20.31%), and copper products (18.04%), with detailed breakdowns of supply chain business and other products [1] Group 2 - Qianhai Kaiyuan Fund has a significant holding in Yunnan Tin Company, with its Qianhai Kaiyuan State-owned Enterprises Selected Mixed Fund A (022414) holding 92,000 shares, accounting for 4.05% of the fund's net value, ranking as the tenth largest holding [2] - The fund has achieved a year-to-date return of 34.49%, ranking 2358 out of 8147 in its category, and a cumulative return of 34.58% since inception [2] - The fund manager, Tian Wei, has been in position for 5 years and 128 days, managing assets totaling 343 million CNY, with the best and worst fund returns during his tenure being 50.1% and -15.11%, respectively [2]

Group 1 - The core viewpoint of the news is that Yunnan Tin Company has experienced a significant decline in its stock price, dropping 5.12% to 22.05 CNY per share, with a total market capitalization of 36.29 billion CNY [1] - Yunnan Tin Company has seen its stock price fall for three consecutive days, with a cumulative decline of 5.03% during this period [1] - The company's main business involves the exploration, mining, and smelting of metals such as tin, zinc, copper, and indium, with tin ingots accounting for 43.61% of its main business revenue [1] Group 2 - According to data, Qianhai Kaiyuan Fund holds Yunnan Tin Company as its tenth largest heavy stock, with 92,000 shares, representing 4.05% of the fund's net value [2] - The fund has incurred a floating loss of approximately 10.95 thousand CNY today, with a total floating loss of 11.32 thousand CNY over the three-day decline [2] - The fund manager, Tian Wei, has a tenure of 5 years and 120 days, with the fund's best return during this period being 45.91% [2]

Investment Rating - The report maintains a "Recommended" rating for the company [6][8]. Core Insights - The company's performance in the first three quarters of 2025 met expectations, with revenue reaching 4.099 billion yuan, a year-on-year increase of 24.36%, and net profit attributable to shareholders at 1.364 billion yuan, up 4.94% year-on-year [3]. - The company has significant silver reserves, ranking first in Asia and eighth globally, following the acquisition of Yubang Mining, which increased silver reserves to 24,537 tons [5]. - The company is progressing with the construction of the Yinman Phase II project, which is expected to enhance production capacity significantly [5]. - The successful acquisition of Atlantic Tin Industry is expected to strengthen the company's market position and operational stability [5]. Summary by Sections Financial Performance - In Q3 2025, the company achieved revenue of 1.626 billion yuan, a year-on-year increase of 48.09%, and net profit of 568 million yuan, up 36.49% year-on-year [3]. - The average price of silver in Q3 was 9.4 yuan per gram, a year-on-year increase of 26% [4]. - The company's total assets reached 17.513 billion yuan, a growth of 43.96% from the beginning of the year [4]. Production and Operations - The company produced 5,651 tons of tin and 212 tons of silver in the first three quarters, with tin production down 13.12% year-on-year and silver production up 18.98% [4]. - The company’s gross profit margin for Q3 was 58.79%, showing a slight improvement from the previous quarter [4]. Future Projections - The company is projected to achieve net profits of 2.018 billion yuan, 2.607 billion yuan, and 3.093 billion yuan for 2025, 2026, and 2027, respectively, with corresponding PE ratios of 27, 21, and 18 [6][7].

Market Performance - The Hang Seng Index (HSI) closed at 26,434, up 1.0% for the day and 31.8% year-to-date[1] - The HSCEI increased by 1.1% to 9,467, with a year-to-date gain of 29.9%[1] - The MSCI China index rose 1.7% to 89, reflecting a year-to-date increase of 37.7%[1] Commodity Prices - Brent Crude oil price decreased by 0.3% to US$66 per barrel, down 8.5% year-to-date[1] - Gold prices fell by 3.2% to US$3,982 per ounce, but are up 51.7% year-to-date[1] - Copper prices increased by 1.0% to US$10,963 per ton, with a year-to-date rise of 25.0%[1] Economic Indicators - China's industrial profits grew by 21.6% year-on-year in September 2025, up from 20.4% in August 2025[4] - Sales revenue for industrial enterprises in China increased by 2.7% in September, compared to 1.9% in August[4] - The US GDP growth rate for Q3 2025 was reported at 3.8%, exceeding the consensus of 3.0%[2]

Group 1 - Perpetua Resources announced an agreement with Agnico Eagle and JPMorgan to raise $255 million through equity investment [1] - JPMorgan will invest $75 million to acquire nearly 3% of Perpetua, marking the first investment under its $1.5 trillion "Safety and Resilience Initiative" [1] - The initiative aims to support critical U.S. industries such as rare earths, robotics, nuclear energy, and artificial intelligence over the next decade [1] Group 2 - Perpetua's antimony-gold project in central Idaho has commenced construction, expected to produce the only critical antimony mine in the U.S. and one of the highest-grade open-pit gold mines [1] - Antimony is crucial for military supply chains, used in the production of armor-piercing ammunition, explosives, nuclear weapons, and night vision equipment [1] - The project has an antimony reserve of 148 million pounds (approximately 67,000 tons), making it the only large antimony mine discovered in the U.S. and one of the largest in the world [1] - Once operational, the project is projected to supply about 35% of U.S. antimony demand in its first six years [1] Group 3 - Under the agreement, JPMorgan will receive warrants for Perpetua's stock, with a maximum investment of $42 million if exercised within one, two, and three years post-transaction [2] - Agnico Eagle will invest $180 million for a 6.5% stake in Perpetua and will assist in developing the mining site [2] - JPMorgan's CIB co-CEO Doug Petno emphasized the investment's importance for national security and resilience, aligning with the initiative's core goals [2]

Core Insights - China's imports of aluminum ore and its concentrates reached 15.88 million tons in September 2025, marking a year-on-year increase of 38.3% [1] - From January to September 2025, the total imports of aluminum ore and its concentrates amounted to 15.73 million tons, reflecting a 32% increase compared to the same period last year [1] - In September 2025, China's alumina exports were recorded at 250,000 tons, which is an 82.2% increase year-on-year [1] - The total alumina exports from January to September 2025 reached 2 million tons, showing a significant year-on-year increase of 61.8% [1] Import Data Summary - Aluminum ore and concentrates: - September 2025: 1.588 million tons, 792.44 million RMB - January to September 2025: 15.731 million tons, 9.167 billion RMB - Year-on-year change: 38.3% (monthly), 32% (cumulative) [1] - Copper ore and concentrates: - September 2025: 259,000 tons, 5.215 billion RMB - January to September 2025: 2.263 million tons, 43.069 billion RMB - Year-on-year change: 6.4% (monthly), 19.9% (cumulative) [1] Export Data Summary - Alumina: - September 2025: 25,000 tons, 85.244 million RMB - January to September 2025: 200,000 tons, 753.867 million RMB - Year-on-year change: 82.2% (monthly), 61.8% (cumulative) [1] - Rare earths and their products: - September 2025: 10,538 tons, 256.961 million RMB - January to September 2025: 95,875 tons, 1.719 billion RMB - Year-on-year change: 7.6% (monthly), 3.1% (cumulative) [1]

Group 1 - Yunnan Tin Company Limited experienced a 5.06% decline in stock price, reaching 23.63 CNY per share, with a trading volume of 1.724 billion CNY and a turnover rate of 4.18%, resulting in a total market capitalization of 38.890 billion CNY [1] - The company, established on November 22, 1998, and listed on February 21, 2000, specializes in the exploration, mining, beneficiation, and smelting of metals such as tin, zinc, copper, and indium [1] - The revenue composition of the company includes tin ingots (43.61%), supply chain business (20.31%), and copper products (18.04%), with detailed breakdowns of supply chain business and other products [1] Group 2 - According to data, Huaxia Fund holds a significant position in Yunnan Tin Company, with Huaxia Quantitative Optimal Stock A (014187) owning 595,200 shares, accounting for 1.01% of the fund's net value, making it the fourth-largest holding [2] - The fund has reported a floating loss of approximately 750,000 CNY today, with a total fund size of 708 million CNY and a year-to-date return of 27.43%, ranking 1988 out of 4220 in its category [2] - The fund manager, Yuan Yingjie, has a tenure of 10 years and 261 days, with the fund's total asset size at 5.984 billion CNY, achieving a best return of 40.35% and a worst return of -93% during his management [3]